The Balance Sheet of Tech Track Reports Total Assets of $400,000

question 30

Multiple Choice

The balance sheet of Tech Track reports total assets of $400,000 and $500,000 at the beginning and end of the year,respectively.Sales revenues are $1,080,000($800,000 in the previous year) ,net income is $40,000,and net cash flows from operating activities are $50,000.How does Tech Track's asset turnover compare to the industry average of 2.4 times?

• A) Better.
• B) Worse.
• C) Same as.
• D) Cannot be determined with the data provided.

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Definitions:

Fertilizers

Substances added to soil to enhance its fertility, typically containing essential nutrients such as nitrogen, phosphorus, and potassium, used to promote plant growth.

Irrigation

Irrigation is the artificial application of water to land to assist in the growing of crops and vegetation or to replenish depleted aquifers.

Slash-And-Burn Horticulture

A farming method that involves cutting and burning plant life to create fields for agriculture.

Equivalent Value

A concept referring to the equality of value between two entities, often used in economics and exchange theories.